Picture

dialysis

Hi We have a claim against Picture financial with the FSCS. We were claiming with the FOS who upheld our complaint for mis selling of PPI and we have questioned the validty of our loan due to not enough equity in property to repay laon and PPI. we sent form off in August but have not heard anything yet. We are no longer paying loan as cant afford it due to ill health retirement and also picture told us that they cannot demand money from us as not sure loan is valid. Has anyone heard anything with regards to Pictures financial affairs, are they in default yet? and anyone received any compo yet? Thanks in advance;)

pinknico

Hello had a email from FSCS this week and they are concluding their investigation to see if Picture are in Default so fingers crossed it wont be long before they start looking at claims.
Can I ask how you found out that your loan was not enforceable or valid?

Mammamia

We are also claiming with the FSCS for Picture PPI. I'm interested that you ar no longer paying the loan - has this had any adverse effect with regards to your home?

BluMonkey

Hi I have a loan with Picture ... I didnt take out the PPI.... They are trying to get us to resign with Paragon and they will kindly drop the rate and the settlement ... But I can't help wondering why ???

I keep reading people's post saying their loans are invalid ... Please can someone out there shed some light on this...

pinknico

BluMonkey wrote: »

Hi I have a loan with Picture ... I didnt take out the PPI.... They are trying to get us to resign with Paragon and they will kindly drop the rate and the settlement ... But I can't help wondering why ???

I keep reading people's post saying their loans are invalid ... Please can someone out there shed some light on this...

I would get someone to look at your loan agreement before you settle and sign another agreement, I think the citizen advice bureau does this for free.

Credit-Crunched

pinknico wrote: »

I would get someone to look at your loan agreement before you settle and sign another agreement, I think the citizen advice bureau does this for free.

Sadly your loans are still valid, DO NOT STOP PAYING, they hold a legal charge over your property and that is at risk if you do not pay. This is regardless of the equity in your property, many people are suffering negative equity at the moment, this will not make the loan un-enforceable.

The book is still live and a charge still exists on your property, the only difference is that picture no longer write new loans, they are just having their book serviced until it is run down.

So again do not stop paying, you will put your home at risk and that is not what you want.

Hope this helps, pleae feel free to ask anymore q's.

Credit-Crunched

dialysis wrote: »

Hi We have a claim against Picture financial with the FSCS. We were claiming with the FOS who upheld our complaint for mis selling of PPI and we have questioned the validty of our loan due to not enough equity in property to repay laon and PPI. we sent form off in August but have not heard anything yet. We are no longer paying loan as cant afford it due to ill health retirement and also picture told us that they cannot demand money from us as not sure loan is valid. Has anyone heard anything with regards to Pictures financial affairs, are they in default yet? and anyone received any compo yet? Thanks in advance;)

Have you tried to claim on your ppi, this may help you in the current climate, help make payments towards your loan. You say you are off with ill health, thats what the poilicy is there for.

marshallka

Credit-Crunched wrote: »

Have you tried to claim on your ppi, this may help you in the current climate, help make payments towards your loan. You say you are off with ill health, thats what the poilicy is there for.

Don't you think that if the poster made a claim on the PPI then this would invalidate the already won misselling of it??? Often the claims are not valid and only 20% actually pay out and this would most probably be losing thousands of pounds to the poster. After all FOS is the one that upheld the misselling of it...

marshallka

pinknico wrote: »

I would get someone to look at your loan agreement before you settle and sign another agreement, I think the citizen advice bureau does this for free.

The citizens advice does have this service for free pinknico.

I hope you get your christmas wish pinknico...;)

Credit-Crunched

marshallka wrote: »

Don't you think that if the poster made a claim on the PPI then this would invalidate the already won misselling of it??? Often the claims are not valid and only 20% actually pay out and this would most probably be losing thousands of pounds to the poster. After all FOS is the one that upheld the misselling of it...

So you recommend that they keep not paying a legal charge against their home? putting them at risk of court proceedings?

Please can you cease shooting donw all of my advice, you obvioulsy do not like or agree with anything i say. however in this insatance there are more important things than you petty retorts.

marshallka

Credit-Crunched wrote: »

So you recommend that they keep not paying a legal charge against their home? putting them at risk of court proceedings?

Please can you cease shooting donw all of my advice, you obvioulsy do not like or agree with anything i say. however in this insatance there are more important things than you petty retorts.

I was not replying to the not repaying the loan I was saying that if they have had a complaint upheld by the FOS ....and the poster has stated here


""""We are no longer paying loan as cant afford it due to ill health retirement and also picture told us that they cannot demand money from us as not sure loan is valid.""""

I would think if they have posted that they are no longer paying (and Picture told them that they cannot demand money!!!) and also the PPI complaint has been upheld then the PPI is most probably cancelled now anyway then it would be better to consult the Citizens Advice in the first instance.

I never recommended that they continue to not pay. That is up to them but I was stating that if they try to make a claim against the PPI now and it is not valid for some reason then they stand to lose the money that they are already due in paying back of the missold PPI.

I was not being petty, just giving my point of view as well..:D